Capstone Asset Management Co. decreased its stake in shares of Nucor Corporation (NYSE:NUE) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,017 shares of the basic materials company’s stock after selling 2,286 shares during the period. Capstone Asset Management Co.’s holdings in Nucor Corporation were worth $1,563,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Dodge & Cox bought a new stake in shares of Nucor Corporation during the fourth quarter valued at $4,309,000. Quadrature Capital Ltd bought a new stake in shares of Nucor Corporation during the fourth quarter valued at $17,960,000. USA Financial Portformulas Corp bought a new stake in shares of Nucor Corporation during the fourth quarter valued at $2,554,000. Kentucky Retirement Systems bought a new stake in shares of Nucor Corporation during the fourth quarter valued at $1,376,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Nucor Corporation during the fourth quarter valued at $614,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Nucor Corporation (NUE) opened at 59.35 on Wednesday. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 17.88 and a beta of 1.52. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00. The stock has a 50 day moving average price of $58.23 and a 200 day moving average price of $59.80.
Nucor Corporation (NYSE:NUE) last announced its earnings results on Thursday, April 20th. The basic materials company reported $1.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by $0.03. Nucor Corporation had a net margin of 5.90% and a return on equity of 12.63%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the business posted $0.27 EPS. Nucor Corporation’s revenue for the quarter was up 29.6% on a year-over-year basis. Equities research analysts forecast that Nucor Corporation will post $4.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio is currently 47.48%.
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A number of research analysts have recently commented on NUE shares. Deutsche Bank AG raised their price target on Nucor Corporation from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. J P Morgan Chase & Co increased their price target on Nucor Corporation from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, March 22nd. Zacks Investment Research lowered Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. BidaskClub raised Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $73.00 price target on shares of Nucor Corporation in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $68.44.
In other news, Chairman John J. Ferriola sold 12,232 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $61.60, for a total transaction of $753,491.20. Following the sale, the chairman now directly owns 349,855 shares in the company, valued at approximately $21,551,068. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Victoria F. Haynes sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $61.52, for a total transaction of $184,560.00. Following the sale, the director now owns 33,703 shares in the company, valued at $2,073,408.56. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Nucor Corporation Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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